Netflix Struggles to Hold Key Support

Corey Rosenbloom, of AfraidToTrade.com, takes a technical look at the daily and weekly charts for the stock of this on-demand streaming media provider and recommends swing traders focus their attention—and build trading strategies—off this pivot.

Will Netflix (NFLX) hold critical support and bounce higher to continue the uptrend?

Or perhaps will sellers win the battle, collapsing price to a new lower support target?

Let’s Plot the Price Course and Note the Trades to Take from Here in NFLX:

Click
to Enlarge

First, price remains (so far) in an uptrend and challenges a key support make or break pivot.